Buying Houses

[wisewomen]

Just in the process of buying our second property at �220,000 in York. At 26 years old, am I mad?

[Ethel]

No. Why should I think that?

I don't understand your question.

[Pippa68]

About as mad as most of the population, I would imagine!

I read recently that �220,000 is about the average house price in the UK now.

Do you have doubts about buying the house?

[rugeleyboy]

york is a booming area so i dont think its a bad purchase...............as long as you can afford the repayments??

[wisewomen]

No real doubts I dont think. I think even if the housing market takes a turn for the worse this house is going to be a long term investment and we should make money eventually.

Its just really scary the price of houses these days. I never though in a million years I would ever have a house worth this kind of money.

[Pippa68]

Well as I said �220,000 is about average...you could have picked a house worth twice that amount!

The house I have been looking at is �450,000 so that is one to feel scared about..lol.

As this is a long term investment (and you are right to think that way) you should be fine :o)

[dolly pond]

i wouldnt do it now unless u know its a good price and u intend to stay long term. the property market is slower than it should be and people are willing to sell, just not buy as all the scaremongering with northern rock etc. get comparables from estate agents, if u give the postcode and despcription i`ll have a look on rightmove plus (only accessible to us boring estate agents) it will give u a lot of info about the prices and the descriptions, length of time on market and which agents marketed them. my email is [email protected]

[droopdrawers]

http://www.nethouseprices.com/index.php?con=so ld_prices

Put your postcode here and see if you have a good deal or not.

It will tell you what price other property has sold for in the area.

Think yourself lucky you are already on the property ladder as its getting nigh on impossible for young people these days.

DD